Ask HN: How are you preparing for the recession?

Re:Ask HN: How are you preparing for the recession? by savanaly on Thursday May 19, 2022 @05:22PM (#31440334)

I agree except for the part about "buy low, sell high."

Timing the market is a fool's errand, and it gets no easier during a time of recession.

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Re:Ask HN: How are you preparing for the recession? by noobrunner on Thursday May 19, 2022 @05:40PM (#31440530)

I am shocked. No one has yet said 'Buy Crypto' :)

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Re:Ask HN: How are you preparing for the recession? by MacsHeadroom on Thursday May 19, 2022 @11:39PM (#31443088)

Unironically, my friends who ran up their credit cards to buy Bitcoin during the last recession are rich and secure now because of it. They thank me for turning them onto it.

Unfortunately for me, I followed conventional advice. I saved a cash emergency fund and only allocated ~20% of my investment budget to Bitcoin. The cash inflated away and I have orders of magnitude less Bitcoin than my friends.

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Re:Ask HN: How are you preparing for the recession? by ddorian43 on Friday May 20, 2022 @04:43AM (#31444845)

You can do it now again if you're feeling risky...

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Re:Ask HN: How are you preparing for the recession? by altdataseller on Friday May 20, 2022 @12:34PM (#31449671)

Bitcoin hasn’t crashed at all. It’s still at similar prices it was early 2021. Let it go to under $5k then I will load up

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Re:Ask HN: How are you preparing for the recession? by rchaud on Friday May 20, 2022 @08:31AM (#31446465)

These days we're more likely to see comments of the "HN is hostile to crypto" variety.

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Re:Ask HN: How are you preparing for the recession? by nullbytesmatter on Thursday May 19, 2022 @06:56PM (#31441239)

Diamonds hands!

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